NAT Closes Newbuilding Loan

Maritime Activity Reports, Inc.

October 25, 2017

Photo: Nordic American Tankers Limited (NAT)

Photo: Nordic American Tankers Limited (NAT)

 Nordic American Tankers Limited (NAT) has announce that it has signed the main terms with a major international financial institution for the financing of the outstanding commitments, due on delivery, for the three Suezmax newbuildings to be delivered during the latter part of 2018. 

"We expect the agreement to be fully executed about mid-November 2017 at which time the full financing of the newbuildings will be completed," said a company statement.
"Recently, we have seen comprehensive discussions about the new sulphur requirements for bunker consumption on ships to be in effect from 2020," it added.
"Our 33 Suezmax tankers are fully compliant to run on 0.10% sulphur content or less.  Therefore, going forward we do not see that this new requirement is an issue for NAT," the statement concluded.
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